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Budget 2004-05: The (Modified) Turnover Tax
02 August, 2004, Parthapratim Pal
The Securities Transaction Tax (STT) or the turnover tax introduced in the Union Budget for 2004-05 has been a controversial move. As an immediate impact of the announcement of the STT, there was more than a hundred point drop of the Bombay Stock Exchange sensitivity index (Sensex).

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